For the first time in nine years, the Interactive Advertising Bureau (IAB) and American Association of Advertising Agencies (4A’s) have updated their advertising terms and conditions for long-form digital video content. These changes, developed over the past year by a joint agency group, seek to clarify advertiser-publisher negotiations on subjects from high-level brand safety concerns to granular ad cancellation policies.
The new terms and conditions apply to all long-form digital video, which it defines as professionally produced digital content that lasts eight minutes or longer and is served ads dynamically, rather than including ads directly in the video itself. The addendum consists mostly of fairly dense legalese, but contains a brief checklist on the first page that breaks down the updated ad buying process.
“Video continues to grow as both a driver of revenue and ROI for buyers and sellers alike,” said Randall Rothenberg, CEO of IAB, in a released statement. “Coupling that with the scarcity of long-form video puts pressure on the marketplace—and makes transactional guidance an imperative.”
The addendum adds guidelines for canceling unified, up-front and scatter ad buys, as well as covering implementation of viewability and fraud measurement controls to digital ads.
The updated advertising terms and conditions are still entirely voluntary, but the IAB and 4A’s promise that adhering to their guidelines will “markedly reduce the delay and expense inherent in preparing multiple, custom agreements,” especially for advertising newcomers like small businesses.
Though the IAB is currently taking public comments on the addendum, businesses need not comply with any guidelines with which they disapprove.
“As the media landscape continues to evolve with the convergence of TV and digital, there’s a need for faster, more agile processes,” said Marla Kaplowitz, president and CEO of 4A’s. “This addendum for long-form video will enable buyers and sellers to begin with a common point of reference, which they can choose to evolve or refine based on their own needs.”
The draft for the update will be available for public comment until February 5.